Trevi Therapeutics, Inc. (NASDAQ:TRVI – Get Rating) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 397,500 shares, a decline of 27.6% from the April 15th total of 548,900 shares. Approximately 11.7% of the shares of the company are short sold. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is presently 0.3 days.
TRVI has been the topic of a number of research reports. Aegis initiated coverage on Trevi Therapeutics in a research note on Tuesday, March 29th. They issued a “buy” rating and a $10.00 price objective on the stock. Zacks Investment Research upgraded Trevi Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, March 23rd.
TRVI stock opened at $2.21 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $85.50 million, a PE ratio of -1.64 and a beta of 0.31. Trevi Therapeutics has a twelve month low of $0.46 and a twelve month high of $3.73. The stock has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $1.36.
Trevi Therapeutics (NASDAQ:TRVI – Get Rating) last posted its earnings results on Thursday, May 12th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.07. During the same period in the previous year, the business posted ($0.43) EPS. On average, equities research analysts anticipate that Trevi Therapeutics will post -0.79 EPS for the current fiscal year.
In other news, major shareholder Paul Edward Walker acquired 3,580,526 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were acquired at an average cost of $1.90 per share, for a total transaction of $6,802,999.40. Following the purchase, the insider now owns 10,421,428 shares of the company’s stock, valued at approximately $19,800,713.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 47.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new position in shares of Trevi Therapeutics during the third quarter worth about $25,000. Commonwealth Equity Services LLC purchased a new position in shares of Trevi Therapeutics during the first quarter worth about $33,000. Millennium Management LLC purchased a new position in shares of Trevi Therapeutics during the fourth quarter worth about $95,000. WealthTrust Axiom LLC grew its holdings in shares of Trevi Therapeutics by 245.6% during the first quarter. WealthTrust Axiom LLC now owns 98,500 shares of the company’s stock worth $216,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Trevi Therapeutics by 415.1% during the fourth quarter. Renaissance Technologies LLC now owns 337,400 shares of the company’s stock worth $264,000 after purchasing an additional 271,900 shares in the last quarter. 75.34% of the stock is owned by institutional investors.
Trevi Therapeutics Company Profile (Get Rating)
Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of Haduvio to treat serious neurologically mediated conditions. The company is developing Haduvio, an oral extended-release formulation of nalbuphine, which is in phase IIb/III clinical trial for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis.
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